UPDATE: Sears Posts Upbeat Q4 Profit

Sears Holdings SHLD reported a narrower FQ4 loss. Sears posted a quarterly loss of $489 million, or $4.61 per share, versus a year-ago loss of $2.4 billion, or $22.63 per share, in the year-ago period. Its adjusted earnings from continuing operations jumped to $1.12 per share from $0.54 per share. Its sales declined to $12.26 billion from $12.48 billion. However, analysts were expecting a profit of $0.98 per share on sales of $11.77 billion. Sears' US same-store sales dropped 1.6%. Sears shares gained 4.28% to $49.50 in pre-market trading.